LUNC News: The Terra Luna Classic community making several efforts to revive LUNC and repeg USTC to $1 through burns, staking, and relying on developers to bring back utility and gain support from the wider crypto community.
Crypto exchange Binance and CEO “CZ” support the Terra Luna Classic community by committing to burn LUNC spot and margin trading fees every month. The community now seeks Binance’s support in the USTC repeg through a market module.
However, USTC repeg Quant team member RedlineDrifter’s recent tweet regarding direct communication with Binance is now deleted. The infrastructure and divergence algorithm remains the two primary issues for agreement on USTC repeg. The reason to remove the tweet remains unclear.
Meanwhile, the community votes on key proposals to bring crucial changes to the chain. The community pool balance that dropped below 448 million LUNC from 2.3 billion LUNC is slowly rising. The funds in the community pool increased to over 602 million, with validator JESUSisLORD depositing 2.65 million LUNC after the L1TF developer group denied accepting the funds and suggested adding it to the community pool.
Read More: Terra Luna Classic Community Votes To Revise LUNC Gas Fees and Staking Undelegation Period
Crypto exchange Coinbase immediately announced relisting XRP after Ripple’s win against the US Securities and Exchange Commission (SEC) on Thursday. Other changes also followed to relist XRP and the price rallied 87% in the 24hrs.
Popular Terra Luna Classic community members and validators including ClassyCrypto, Mr. Diamondhandz1, and Vegas claimed the community is serious about the recovery and Coinbase must list LUNC after XRP news. The crypto exchanges can’t yet relist LUNC due to reasons including the US SEC lawsuit against Terraform Labs and co-founder Do Kwon.
LUNC price currently trades at $0.000088, up 5% in the past 24 hours. It pares earlier gains and failed to surpass the $0.000090 level.
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